EASTSIDE COMMERCIAL BANK Failed 2014

What happened

EASTSIDE COMMERCIAL BANK of CONYERS, GA was closed on 2014-07-18. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to COMMUNITY & SOUTHERN BANK (ATLANTA, GA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

4070

FDIC Certificate

58125

FDIC FIN

10504

Bank name

EASTSIDE COMMERCIAL BANK

Location

CONYERS, GA

Failure date

2014-07-18

FDIC resolution date

2014-07-18

Charter type

State commercial bank, non-Federal Reserve member (FDIC-supervised)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$38M

Deposits at failure

$167M

Assets at failure

$174M

Acquiring bank

COMMUNITY & SOUTHERN BANK (ATLANTA, GA)

Other banks COMMUNITY & SOUTHERN BANK acquired in FDIC resolutions

• GEORGIA TRUST BANK (BUFORD, GA) — failed 2012-07-20
• FIRST CHEROKEE STATE BANK (WOODSTOCK, GA) — failed 2012-07-20
• THE BANK OF ELLIJAY (ELLIJAY, GA) — failed 2010-09-17
• FIRST COMMERCE COMMUNITY BANK (DOUGLASVILLE, GA) — failed 2010-09-17
• THE PEOPLES BANK (WINDER, GA) — failed 2010-09-17
• APPALACHIAN COMMUNITY BANK (ELLIJAY, GA) — failed 2010-03-19
• FIRST NATIONAL BANK OF GEORGIA (CARROLLTON, GA) — failed 2010-01-29